Three banks have increased their floating mortgage interest rates, and significant increases in fixed interest rates indicate a major rise in rates in the coming months, according to the latest mortgage rate survey by the Real Estate Institute of New Zealand (REINZ). The BNZ and Westpac increased their floating rates from 7.10% to 7.25%, while the ASB’s went from 7.05% to 7.25%. The other 15 banking institutions kept their floating rates unchanged.
